Stephen is purchasing 700 shares of KPT,Inc.,stock at a price per share of $20.80.What is the minimum amount the Federal Reserve will require Stephen to pay in cash for this purchase?

Name: Stephen is purchasing 700 shares of KPT,Inc.,stock at a price per share of $20.80.What is the minimum amount the Federal Reserve will require Stephen to pay in cash for this purchase?
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Question

Quizplus · Accepted Answer

Minimum cash required = 0.50 × 700 × $20.80 = $7,280

Stephen Is Purchasing 700 Shares of KPT,Inc